• Bloomberg

    Ambani Prepares Facebook-Backed Unit for Overseas IPO

    (Bloomberg) -- Reliance Industries Ltd. is working with banks on early preparations for an overseas listing of its digital and wireless business, people with knowledge of the matter said, after the unit attracted more than $10 billion of investment in a month.The conglomerate backed by Mukesh Ambani, Asia’s richest man, is preparing Jio Platforms Ltd. for an initial public offering outside of India, the people said. The offering could happen in the next 12 to 24 months and the company hasn’t decided on a listing venue, one of the people said. There’s also no final decision on timeline and size, according to the people, who asked not to be identified as the discussions are private.KKR & Co. last week became the latest investor piling into Jio Platforms after Ambani sealed deals with Facebook Inc., Silver Lake Partners and General Atlantic recently. An overseas listing could potentially give the digital business a higher valuation and allow existing investors to exit, the people said.Read: Asia’s Richest Man Lures $10 Billion of Investment in WeeksA representative for Reliance Industries declined to comment.Jio Platforms combines Reliance’s digital assets with its wireless carrier, Reliance Jio Infocomm Ltd., into a holding company aimed at becoming a top e-commerce and payments operator in India’s vast consumer market.Investors are betting on Jio’s access to India’s huge consumer market, and its potential to shake up traditional industries in the country -- from retail to education and payments -- with its technology. India is the only major open Internet market where foreign technology giants such as Amazon.com Inc., Walmart Inc. and Google’s parent Alphabet Inc. can compete for market share.Started in 2016, Reliance Jio is now India’s largest wireless carrier. The operator stormed past rivals by building a nationwide 4G network, then offering free calling and data services at prices established competitors with older networks could not match without losing money. Ambani was weighing an IPO of Reliance Jio three years ago after a $31 billion investment spree, Bloomberg News reported in 2017.Shares of Reliance Industries have fallen about 5% this year, giving the conglomerate a market value of about $120 billion.(Updates to add Reliance’s share performance in the last paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Twitter Adds Fact-Check Label to Trump Tweets for First Time
    Bloomberg

    Twitter Adds Fact-Check Label to Trump Tweets for First Time

    (Bloomberg) -- Twitter Inc. has started fact-checking Donald Trump. The U.S. President didn’t take it lightly.Following years of criticism that the social network let the president spread misinformation, on Tuesday a pair of Trump’s tweets that made unsubstantiated claims about mail-in voting were appended with links reading “Get the facts about mail-in ballots.”The labels take readers to a page with a collection of stories and reporters’ tweets about the president’s claims, as well as an item apparently authored by Twitter staff titled “What you need to know” that rebuts Trump.It’s the first time Twitter has taken action on Trump’s posts for being misleading, and the president responded shortly afterward, tweeting that the company was interfering with the 2020 election.“Twitter is completely stifling FREE SPEECH, and I, as President, will not allow it to happen!” Trump posted to his 80 million followers.The labels are part of a policy Twitter expanded earlier this month when it started labeling misinformation related to Covid-19. Posting misinformation is not against the company’s rules, but Twitter is adding links providing more information to tweets “where people may still be confused or misled,” it said at the time. Twitter has expanded that policy to include tweets about voting, according to a spokesperson, who declined to share if this policy included other topics.“Trump falsely claimed that mail-in ballots would lead to ‘a Rigged Election,’” the Twitter-authored item reads. “However, fact-checkers say there is no evidence that mail-in ballots are linked to voter fraud.”Twitter confirmed it had added the fact-checking links to Trump’s tweets.Trump campaign manager Brad Parscale said the label was an effort to impede the president’s efforts to get his message to voters. “Partnering with the biased fake news media ‘fact checkers’ is only a smoke screen Twitter is using to try to lend their obvious political tactics some false credibility,” Parscale said in a statement.Trump shared the same post about mail-in ballots on Tuesday to his Facebook page, where he has more than 29 million followers. That post is still up and doesn’t include any warning or label. Facebook Inc. didn’t immediately respond to a request for comment.Twitter was under pressure earlier in the day to remove other Trump tweets -- just not the ones focused on mail-in ballots. The New York Times published a letter written by a man whose wife died in former Representative Joe Scarborough’s office, asking Twitter Chief Executive Officer Jack Dorsey to remove tweets Trump posted encouraging a baseless conspiracy theory that Scarborough murdered the woman, Lori Klausutis.Twitter issued a statement apologizing for the pain Trump’s tweets caused Klausutis’s family but did not say whether the tweets would be removed. They are still visible on the president’s Twitter account and on his Facebook page.(Updates with Trump response in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Twitter adds fact-check warning label to Trump’s tweets for first time
    MarketWatch

    Twitter adds fact-check warning label to Trump’s tweets for first time

    Twitter Inc. marked tweets by President Donald Trump with a fact-check warning label for the first time Tuesday, after the president falsely claimed mail-in ballots are “substantially fraudulent.”

  • Business Wire

    CoStar Group, Inc. Announces Exercise of Underwriters' Option to Purchase an Additional 343,511 Shares of Common Stock

    CoStar Group, Inc. (Nasdaq: CSGP) ("CoStar") today announced that the underwriters have exercised their option to purchase an additional 343,511 shares of CoStar’s common stock at $655.00 per share, in addition to the 2,290,076 shares of CoStar common stock, which were purchased on May 20, 2020. Goldman Sachs & Co. LLC, J.P. Morgan, BofA Securities and Citigroup are acting as joint book-running managers for the offering. The sale of the overallotment shares is expected to close on March 28, 2020, subject to customary closing conditions. CoStar expects to use the net proceeds of the offering to fund all or a portion of the costs of any strategic acquisitions it determines to pursue in the future, to finance the growth of its business and for working capital and other general corporate purposes.

  • Business Wire

    OneSpaWorld Files Investor Presentation

    OneSpaWorld Holdings Limited (NASDAQ: OSW), the pre-eminent global provider of health and wellness products and services on board cruise ships and in destination resorts around the world, today filed an investor presentation regarding the previously announced $75 million equity financing to be voted on at the Company’s Annual Meeting of Shareholders on June 10.

  • Hollywood Hills Parties Getting Wilder During the Pandemic, LAPD Says
    Variety

    Hollywood Hills Parties Getting Wilder During the Pandemic, LAPD Says

    The Los Angeles Police Department has issued a warning directed to Hollywood Hills residents after seeing an "increase in loud house parties" taking place during the coronavirus pandemic. With the Los Angeles night club and bar scene currently shuttered due to shelter-in-place and social distancing regulations, some people have turned to short-term rentals in Hollywood. […]

  • Should You Buy Industrias Bachoco, S.A.B. de C.V. (IBA)?
    Insider Monkey

    Should You Buy Industrias Bachoco, S.A.B. de C.V. (IBA)?

    At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each […]

  • Here is What Hedge Funds Think About Suzano S.A. (SUZ)
    Insider Monkey

    Here is What Hedge Funds Think About Suzano S.A. (SUZ)

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]

  • Should You Buy Sinopec Shanghai Petrochemical Company Limited (SHI)?
    Insider Monkey

    Should You Buy Sinopec Shanghai Petrochemical Company Limited (SHI)?

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]

  • Woori Financial Group Inc. (WF): Hedge Funds Are In Wait-and-See Mode
    Insider Monkey

    Woori Financial Group Inc. (WF): Hedge Funds Are In Wait-and-See Mode

    The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]

  • Why Content Is King for Netflix During a Pandemic
    Motley Fool

    Why Content Is King for Netflix During a Pandemic

    If you're like me, Netflix (NASDAQ: NFLX) is a go-to choice when there's time to kill. Netflix was the best performing stock of the 2010s, ending the 10-year period on December 31st, 2019 up 41-fold. Netflix has committed to spend $150 million supporting the industry.

  • CNW Group

    ATN Reports its First Quarter for the Three Months Ended March 31, 2020

    ATN Reports its First Quarter for the Three Months Ended March 31, 2020

  • COVID-19 dining out: Restaurants take to the streets to create socially distanced dining rooms as nation reopens
    USA TODAY

    COVID-19 dining out: Restaurants take to the streets to create socially distanced dining rooms as nation reopens

    As U.S. reopens, cities are opening up sidewalks and closing streets to create large open-air dining rooms to help restaurants and lure back diners.

  • Toll Brothers earnings, Fed beige book: What to know in markets Wednesday
    Yahoo Finance

    Toll Brothers earnings, Fed beige book: What to know in markets Wednesday

    Toll Brothers earnings and the Federal Reserve’s beige book will be in focus Wednesday.

  • The Pujiang International Group (HKG:2060) Share Price Has Gained 18% And Shareholders Are Hoping For More
    Simply Wall St.

    The Pujiang International Group (HKG:2060) Share Price Has Gained 18% And Shareholders Are Hoping For More

    Pujiang International Group Limited (HKG:2060) shareholders might be concerned after seeing the share price drop 18...

  • Is Brookfield Renewable Partners L.P. (BEP) A Good Stock To Buy?
    Insider Monkey

    Is Brookfield Renewable Partners L.P. (BEP) A Good Stock To Buy?

    In this article you are going to find out whether hedge funds think Brookfield Renewable Partners L.P. (NYSE:BEP) is a good investment right now. We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the consensus […]

  • Hedge Funds Have Never Been Less Bullish On Cheniere Energy Partners LP (CQP)
    Insider Monkey

    Hedge Funds Have Never Been Less Bullish On Cheniere Energy Partners LP (CQP)

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]

  • Huaneng Power International Inc (HNP): Are Hedge Funds Right About This Stock?
    Insider Monkey

    Huaneng Power International Inc (HNP): Are Hedge Funds Right About This Stock?

    The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]

  • Hedge Funds Have Never Been Less Bullish On Israel Chemicals Ltd. (ICL)
    Insider Monkey

    Hedge Funds Have Never Been Less Bullish On Israel Chemicals Ltd. (ICL)

    Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]

  • GlobeNewswire

    Immutep Global Webcast to Present New Data from 2020 ASCO Annual Meeting

    SYDNEY, Australia, May 27, 2020 -- Immutep Limited (ASX: IMM; NASDAQ: IMMP) will host a global webcast on Tuesday 2 June 2020 at 7.30am, Australia Eastern Standard Time (AEST).

  • Asia Stocks Mixed; U.S. Futures Dip; Dollar Down: Markets Wrap
    Bloomberg

    Asia Stocks Mixed; U.S. Futures Dip; Dollar Down: Markets Wrap

    (Bloomberg) -- Asian stocks saw a mixed open Wednesday as investors weighed a report that the Trump administration is considering sanctions on Chinese officials, another sign of deteriorating Sino-American relations. The dollar and Treasuries held overnight losses.Shares in Seoul and Sydney dropped, while those in Tokyo saw smaller losses. S&P 500 futures dipped after the gauge closed at an 11-week high. The index gave up almost half its gains in the final half hour of trading with chipmakers exposed to China tumbling. The report suggested that the Treasury Department could impose controls on transactions and freeze assets of Chinese officials and businesses for implementing a new national security law that would curtail the rights and freedoms of Hong Kong citizens. The yen fluctuated.The recent strength in equity markets “is an indication that investors are getting optimistic about the reopening of the economy and the drug treatment development,” Katerina Simonetti, senior portfolio manager at UBS Private Wealth, said on Bloomberg TV. “We hope that it will eventually lead to a normalization in the market but we have to keep an eye on the re-emergence of virus cases.”The latest economic data had showed that the easing of lockdown restrictions is boosting economic activity in the U.S. Investors are now contending with an increase in hostilities between the world’s two largest economies that could threaten global trade at a delicate time for a world recovering from the coronavirus pandemic.“The narrative for markets is shifting somewhat, with hopes associated with the easing of lockdown measures in many countries and still very exaggerated hopes of a vaccine being found short-term, needing to be balanced against escalating U.S./China tensions,” said Marc Ostwald, chief economist and global strategist at ADM Investor Services.Elsewhere, crude oil retreated and gold was steady.Here are some key events coming up:Thursday brings the U.S. jobless claims reading for the week ended May 23.Federal Reserve Chairman Jerome Powell participates in a virtual discussion on Friday.These are the main moves in markets:StocksFutures on the S&P 500 Index dipped 0.1% as of 9:05 a.m. in Tokyo. The gauge added 1.2% on Tuesday.Japan’s Topix index added 0.2%.South Korea’s Kospi index slid 0.1%.Australia’s S&P/ASX 200 Index fell 0.5%.CurrenciesThe Bloomberg Dollar Spot Index was steady after sinking 0.9%.The yen was at 107.51 per dollar.The offshore yuan held at 7.1465 per dollar.The euro bought $1.0977.BondsThe yield on 10-year Treasuries dipped to 0.69%.CommoditiesWest Texas Intermediate crude slid 1% to $34.02 a barrel.Gold was at $1,712.15 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Barrons.com

    TIAA Says Negative Yields Could Soon be a Possibility in Money-Market Products. Why That’s a ‘Horrible Deal’ for Investors.

    In a notice to investors this week, TIAA said it plans to temporarily waive fees on certain products. But notably, the firm said it would not renew the waiver after the end of 2020. What’s more, it said it could recoup those waived fees as soon as next year, if U.S. interest rates rise far enough to provide a positive yield.

  • Hedge Funds Have Never Been Less Bullish On Turkcell Iletisim Hizmetleri A.S. (TKC)
    Insider Monkey

    Hedge Funds Have Never Been Less Bullish On Turkcell Iletisim Hizmetleri A.S. (TKC)

    In this article we will take a look at whether hedge funds think Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get […]

  • World economic prospects darken, rebound delayed: Reuters poll
    Reuters

    World economic prospects darken, rebound delayed: Reuters poll

    Economic prospects for the developed world this year have darkened again in the past month as the coronavirus pandemic has rolled from Asia to the Americas, with a V-shaped sharp recovery expected by less than one-fifth of economists polled by Reuters. Reuters polls of more than 250 economists taken over the past few weeks showed recessions in most major economies would be deeper this year than previously predicted.

  • GlobeNewswire

    Amid the COVID-19 crisis and the looming economic recession, the Electronic Bill Presentment and Payment (EBPP) market worldwide will grow by a projected 12.5 Number of Bills in Billion, during the analysis period

    New York, May 26, 2020 -- Reportlinker.com announces the release of the report "Global Electronic Bill Presentment and Payment (EBPP) Industry" -.

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